1. The Unaudited Financial Results for the quarter ended on March 31, 2009 have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on April 30, 2009 and have been subjected to limited review by the statutory auditors of the Company.

2. Given the seasonal nature the industry, the results of any quarter may not be a true indicative of annual performance. Historically company has observed the following seasonality i.e. Quarter I amounts to approximate 10 to 12% of the total revenue, Quarter II amounts to approximate 18 to 20% of the total revenue, Quarter III amounts to approximate 25 to 30% and Quarter IV amounts to approximate 38 to 47% of the total revenue.

3. During the Quarter, Educomp has received orders from State Government of UP and Assam for a total of 2042 schools. The combined worth of these orders are Rs. 120 crores. With these orders the total number of schools under ICT implementation in the Educomp portfolio has gone up to 12012.

4. Since January 01, 2009 till date Company has allotted 8,240 Equity shares pursuant to exercise of Stock options by eligible employees of the Company its subsidiaries under ESOP Scheme 2006 and ESOP Scheme 2007. Paid up Capital of the Company is Rs 17,29,18,100/- as on April 30, 2009.

5. The Segment Report is prepared in accordance with the Accounting Standard 17 Segment Reporting issued by the Institute of Chartered Accountants of India.

6. The Basic and Diluted Earning per Share has been calculated in accordance with the AS-20 Earning per Share issued by the ICAI.

7. Consolidation of Accounts has been done in accordance with the AS-21 Consolidation of Financial Statements issued by the ICAI.

8. Previous year/period figures have been regrouped and rearranged, wherever considered necessary for comparison purposes.

9. The Central Government has issued a notification on March 31, 2009 amending the existing AS-11 relating to The effects of changes in foreign exchange rates By this amendment, in case of depreciable capital assets, companies are permitted to add to /deduct from the carrying cost of depreciable assets, the exchange differences, arising out of exchange rate fluctuations with corresponding adjustments in general reserves and provision for depreciation and in other cases by transfer to Foreign currency Monetary Item Translation Difference Account. Accordingly, during the year , the company opted to exercise this option, consequently the profits for the year ended March 31, 2009 are higher by Rs 44.03 Crores.

Shantanu Prakash
Chairman & Managing Director